| [X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|-----|-----------------------------------------------------------------------------------------|

| [  ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|----------------|------------------------------------------------------------------------------------------|

| Man-AHL Diversified I L.P.                         |
|----------------------------------------------------|
| (Exact name of registrant as specified in charter) |

| Delaware                                                       |   | 06-1496634                        |
|----------------------------------------------------------------|--------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (IRS Employer Identification No.) |

| Chicago, Illinois                        |   | 60606      |
|------------------------------------------|--------|------------|
| (Address of principal executive offices) |   | (Zip Code) |

|   |   |  Yes [X]    No [  ] |
|--------|--------|--------------------------------------------------------|

|   |   |  Yes [  ]    No [  ] |
|--------|--------|-------------------------------------------------------------------|

| Large Accelerated Filer [  ]                |   | Accelerated Filer   [  ] |
|-------------------------------------------------------|--------|---------------------------------------------------|
| Non-Accelerated Filer   [  ] |   | Smaller reporting company  [X]          |

|   |   |  Yes [  ]    No [X] |
|--------|--------|--------------------------------------------------------|

----

| (a) | At March 31, 2010 (unaudited) and December 31, 2009 |
|-----|-----------------------------------------------------|

| (b) | For the three months ended March 31, 2010 and 2009 (unaudited) |
|-----|----------------------------------------------------------------|

----

| MAN-AHL DIVERSIFIED I L.P.                                                                      |   |                      |        |   |              |   |
|-------------------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-------------------|--------|
| (A Delaware Limited Partnership)                                                                |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
| STATEMENTS OF FINANCIAL CONDITION                                                               |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
|                                                                                            |   | March 31, 2010(unaudited) |        |   | December 31, 2009 |   |
| ASSETS                                                                                          |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
| CASH AND CASH EQUIVALENTS                                                                       |   | $                         | 4,934,541   |   |              | $      | 8,321,635 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| INVESTMENT IN MAN-AHL DIVERSIFIED                                                               |   |                      |        |   |              |   |   |   |
|   TRADING COMPANY L.P.                                                                |   |                      | 397,316,656 |   |              |   | 334,568,212 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| DUE FROM MAN-AHL DIVERSIFIED                                                                    |   |                      |        |   |              |   |   |   |
|   TRADING COMPANY L.P.                                                                |   |                      | 11,553,505  |   |              |   | 9,251,843 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| OTHER ASSETS                                                                                    |   |                      | 295         |   |              |   | 295 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| TOTAL                                                                                           |   | $                         | 413,804,997 |   |              | $      | 352,141,985 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| LIABILITIES AND PARTNERS’ CAPITAL                                                         |   |                      |        |   |              |   |   |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| LIABILITIES:                                                                                    |   |                      |        |   |              |   |   |   |
|   Redemptions payable                                                                 |   | $                         | 9,922,108   |   |              | $      | 7,829,165 |   |
|   Subscriptions received in advance                                                   |   |                      | 4,934,541   |   |              |   | 8,381,824 |   |
|   Management fees payable                                                             |   |                      | 966,715     |   |              |   | 842,617 |   |
|   Servicing fees payable                                                              |   |                      | 497,118     |   |              |   | 425,445 |   |
|   Accrued expenses                                                                    |   |                      | 167,564     |   |              |   | 154,618 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|            Total liabilities             |   |                      | 16,488,046  |   |              |   | 17,633,669 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| PARTNERS’ CAPITAL:                                                                        |   |                      |        |   |              |   |   |   |
|   General Partner - Class A (186 unit equivalents outstanding                         |   |                      |        |   |              |   |   |   |
|     at March 31, 2010 and December 31, 2009, respectively)                  |   |                      | 586,368     |   |              |   | 569,005 |   |
| Limited Partners - Class A (84,647.11 and 82,984.62 units outstanding                           |   |                      |        |   |              |
|     at March 31, 2010 and December 31, 2009, respectively)                  |   |                      | 266,315,025 |   |              |   | 253,353,412 |   |
| Limited Partners - Class A Series 2 (16,876.95 and 4,857.29 units outstanding                   |   |                      |        |   |              |
|     at March 31, 2010 and December 31, 2009, respectively)                  |   |                      | 53,768,893  |   |              |   | 14,969,780 |   |
| Limited Partners - Class B (20,882.87 and 20,210.95 units outstanding                           |   |                      |        |   |              |
|     at March 31, 2010 and December 31, 2009, respectively)                  |   |                      | 65,701,752  |   |              |   | 61,704,853 |   |
| Limited Partners - Class B Series 2 (3,435.37 and 1,269.10 units outstanding                    |   |                      |        |   |              |
|     at March 31, 2010 and December 31, 2009, respectively)                  |   |                      | 10,944,913  |   |              |   | 3,911,266 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|            Total partners’ capital |   |                      | 397,316,951 |   |              |   | 334,508,316 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| TOTAL                                                                                           |   | $                         | 413,804,997 |   |              | $      | 352,141,985 |   |

----

| MAN-AHL DIVERSIFIED I L.P.                               |   |   |     |   |   |   |
|----------------------------------------------------------|--------|--------|----------|--------|--------|--------|
| (A Delaware Limited Partnership)                         |   |   |     |   |   |   |
|                                                     |   |   |     |   |   |   |
| STATEMENTS OF FINANCIAL CONDITION (CONTINUED)            |   |   |     |   |
|                                                     |   |   |     |   |   |   |
|                                                     |   |   |     |   |   |   |
| NET ASSET VALUE PER OUTSTANDING UNIT OF                  |   |   |     |   |   |   |
|   PARTNERSHIP INTEREST - CLASS A               |   | $      | 3,146.19 |   |   | $      | 3,053.03 |   |
|                                                     |   |   |     |   |   |   |   |   |
| NET ASSET VALUE PER OUTSTANDING UNIT OF                  |   |   |     |   |   |   |   |   |
|   PARTNERSHIP INTEREST - CLASS A Series 2      |   | $      | 3,185.94 |   |   | $      | 3,081.92 |   |
|                                                     |   |   |     |   |   |   |   |   |
| NET ASSET VALUE PER OUTSTANDING UNIT OF                  |   |   |     |   |   |   |   |   |
|   PARTNERSHIP INTEREST - CLASS B               |   | $      | 3,146.20 |   |   | $      | 3,053.04 |   |
|                                                     |   |   |     |   |   |   |   |   |
| NET ASSET VALUE PER OUTSTANDING UNIT OF                  |   |   |     |   |   |   |   |   |
|   PARTNERSHIP INTEREST - CLASS B Series 2      |   | $      | 3,185.95 |   |   | $      | 3,081.93 |   |
|                                                     |   |   |     |   |   |   |   |   |
| See accompanying notes and attached financial statements |   |   |     |   |   |   |   |   |
| of Man-AHL Diversified Trading Company L.P.              |   |   |     |   |   |   |   |   |

----

| MAN-AHL DIVERSIFIED I L.P.                                                            |   |           |       |   |           |   |
|---------------------------------------------------------------------------------------|--------|----------------|------------|--------|----------------|--------|
| (A Delaware Limited Partnership)                                                      |   |           |       |   |
|                                                                                  |   |           |       |   |           |   |
| STATEMENTS OF OPERATIONS (UNAUDITED)                                                  |   |           |       |   |
|                                                                                  |   |           |       |   |           |   |
|                                                                                  |   | For the three  |       |   | For the three  |   |
|                                                                                  |   | months ended   |       |   | months ended   |   |
|                                                                                  |   | March 31, 2010 |       |   | March 31, 2009 |   |
|                                                                                  |   |           |       |   |           |   |
| NET INVESTMENT INCOME                                                                 |   |           |       |   |           |   |
|   ALLOCATED FROM MAN-AHL                                                    |   |           |       |   |           |   |
| DIVERSIFIED TRADING COMPANY L.P. -                                                    |   |           |       |   |
|   Interest income                                                           |   | $              | 128,831    |   |           | $      | 131,827 |   |
|                                                                                  |   |           |       |   |           |   |   |   |
| PARTNERSHIP EXPENSES:                                                                 |   |           |       |   |           |   |   |   |
|   Brokerage commissions                                                     |   |           | 372,101    |   |           |   | 127,165 |   |
|   Management fees                                                           |   |           | 2,802,154  |   |           |   | 1,738,015 |   |
|   Servicing Fees                                                            |   |           | 1,442,395  |   |           |   | 869,007 |   |
|   Other expenses                                                            |   |           | 95,279     |   |           |   | 170,954 |   |
|                                                                                  |   |           |       |   |           |   |   |   |
|            Total expenses      |   |           | 4,711,929  |   |           |   | 2,905,141 |   |
|                                                                                  |   |           |       |   |           |   |   |   |
|            Net investment loss |   |           | (4,583,098 | )      |           |   | (2,773,314 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
| REALIZED AND UNREALIZED GAINS                                                         |   |           |       |   |           |
| (LOSSES) ON TRADING ACTIVITIES                                                        |   |           |       |   |           |
|    ALLOCATED FROM MAN-AHL                                              |   |           |       |   |           |   |   |   |
| DIVERSIFIED TRADING COMPANY L.P.:                                                     |   |           |       |   |           |
|   Net realized trading gains (losses)                                       |   |           |       |   |           |   |   |   |
|    on closed contracts                                                 |   |           | 2,014,883  |   |           |   | (5,417,626 | ) |
| Net change in unrealized trading gains (losses)                                       |   |           |       |   |           |
|    on open contracts                                                   |   |           | 14,913,284 |   |           |   | (10,237,272 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
| Net gains (losses) on trading activities allocated                                    |   |           |       |   |           |
|       from Man-AHL Diversified                          |   |           |       |   |           |   |   |   |
|         Trading Company L.P.                  |   |           | 16,928,167 |   |           |   | (15,654,898 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
| NET INCOME (LOSS)                                                                     |   | $              | 12,345,069 |   |           | $      | (18,428,212 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
|                                                                                  |   |           |       |   |           |   |   |   |
| NET INCOME (LOSS) PER UNIT OF                                                         |   |           |       |   |           |   |   |   |
|   PARTNERSHIP INTEREST - CLASS A                                            |   | $              | 93.16      |   |           | $      | (272.58 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
| NET INCOME PER UNIT OF                                                                |   |           |       |   |           |   |   |   |
|   PARTNERSHIP INTEREST - CLASS A Series 2                                   |   | $              | 104.02     |   |           | $      | - |   |
|                                                                                  |   |           |       |   |           |   |   |   |
| NET INCOME (LOSS) PER UNIT OF                                                         |   |           |       |   |           |   |   |   |
|   PARTNERSHIP INTEREST - CLASS B                                            |   | $              | 93.16      |   |           | $      | (272.58 | ) |
|                                                                                  |   |           |       |   |           |   |   |   |
| NET INCOME PER UNIT OF                                                                |   |           |       |   |           |   |   |   |
|   PARTNERSHIP INTEREST - CLASS B Series 2                                   |   | $              | 104.02     |   |           | $      | - |   |
|                                                                                  |   |           |       |   |           |   |   |   |
| See accompanying notes and attached financial statements                              |   |
|  of Man-AHL Diversified Trading Company L.P.                                     |   |           |       |   |           |   |   |   |

----

| MAN-AHL DIVERSIFIED I L.P.                                   |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |
|--------------------------------------------------------------|--------|----------|-------------|--------|------------------|--------|--------|----------|--------|--------|------------------|--------|--------|----------|--------|--------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|------------|--------|--------|--------|--------|--------|--------|--------|
| (A Delaware Limited Partnership)                             |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |
| STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (UNAUDITED) |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |
| FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009           |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |
|                                                         |   | CLASS A  |        |   | CLASS A Series 2 |   |   | CLASS B  |   |   | CLASS B Series 2 |   |   | TOTAL    |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |
|                                                         |   | Limited  |        |   | General          |   |   | Limited  |   |   | Limited          |   |   | Limited  |   |   |   |   |       |   |   |
|                                                         |   | Partners |        |   | Partner          |   |   | Partners |   |   | Partners         |   |   | Partners |   |   |   |   |       |   |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |
|                                                         |   | Amount   |        |   | Units            |   |   | Amount   |   |   | Units            |   |   | Amount   |   |   | Units  |   |       | Amount |   |   | Units  |   |   | Amount |       |   | Units  |   |   | Amount |   |   | Units |   |
| PARTNERS’ CAPITAL                                      |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |
| January 1, 2010                                              |   | $        | 253,353,412 |   |             |   | 82,985 |     |   | $      | 569,005          |   |   |     | 186    |   |   | $      | 14,969,780 |   |   |   | 4,857  |   |   | $      | 61,704,853 |   |   |   | 20,211 |   |   | $      | 3,911,266 |   |   |   | 1,269 |   |   | $ | 334,508,316 |   |   |   | 109,508 |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Subscriptions                                    |   |     | 20,369,869  |   |             |   | 6,765  |     |   |   | -                |   |   |     | -      |   |   |   | 43,413,001 |   |   |   | 14,091 |   |   |   | 5,586,774  |   |   |   | 1,847  |   |   |   | 8,234,706 |   |   |   | 2,675 |   |   |   | 77,604,350 |   |   |   | 25,378 |   |
|   Redemptions                                      |   |     | (15,677,415 | )      |             |   | (5,103 | )        |   |   | -                |   |   |     | -      |   |   |   | (6,336,551 | )      |   |   | (2,072 | )      |   |   | (3,595,771 | )      |   |   | (1,175 | )      |   |   | (1,531,047 | ) |   |   | (508 | ) |   |   | (27,140,784 | ) |   |   | (8,858 | ) |
|   Net Income                                       |   |     | 8,269,159   |   |             |   | -      |     |   |   | 17,363           |   |   |     | -      |   |   |   | 1,722,663  |   |   |   | -      |   |   |   | 2,005,896  |   |   |   | -      |   |   |   | 329,988 |   |   |   | - |   |   |   | 12,345,069 |   |   |   | - |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL                                      |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| March 31, 2010                                               |   | $        | 266,315,025 |   |             |   | 84,647 |     |   | $      | 586,368          |   |   |     | 186    |   |   | $      | 53,768,893 |   |   |   | 16,876 |   |   | $      | 65,701,752 |   |   |   | 20,883 |   |   | $      | 10,944,913 |   |   |   | 3,436 |   |   | $ | 397,316,951 |   |   |   | 126,028 |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL                                      |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| January 1, 2009                                              |   | $        | 190,432,028 |   |             |   | 51,957 |     |   | $      | 683,098          |   |   |     | 186    |   |   | $      | -          |   |   |   | -      |   |   | $      | 28,126,634 |   |   |   | 7,674  |   |   | $      | - |   |   |   | - |   |   | $ | 219,241,760 |   |   |   | 59,817 |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Subscriptions                                    |   |     | 37,110,315  |   |             |   | 10,311 |     |   |   | -                |   |   |     | -      |   |   |   | -          |   |   |   | -      |   |   |   | 8,001,470  |   |   |   | 2,214  |   |   |   | - |   |   |   | - |   |   |   | 45,111,785 |   |   |   | 12,525 |   |
|   Redemptions                                      |   |     | (11,178,956 | )      |             |   | (3,179 | )        |   |   | -                |   |   |     | -      |   |   |   | -          |   |   |   | -      |   |   |   | (2,423,769 | )      |   |   | (685   | )      |   |   | - |   |   |   | - |   |   |   | (13,602,725 | ) |   |   | (3,864 | ) |
|   Net Loss                                         |   |     | (15,898,231 | )      |             |   | -      |     |   |   | (50,801          | )      |   |     | -      |   |   |   | -          |   |   |   | -      |   |   |   | (2,479,180 | )      |   |   | -      |   |   |   | - |   |   |   | - |   |   |   | (18,428,212 | ) |   |   | - |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL                                      |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| March 31, 2009                                               |   | $        | 200,465,156 |   |             |   | 59,089 |     |   | $      | 632,297          |   |   |     | 186    |   |   | $      | -          |   |   |   | -      |   |   | $      | 31,225,155 |   |   |   | 9,203  |   |   | $      | - |   |   |   | - |   |   | $ | 232,322,608 |   |   |   | 68,478 |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| See accompanying notes and attached financial statements     |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |
| of Man-AHL Diversified Trading Company L.P.                  |   |     |        |   |             |   |   |     |   |   |             |   |   |     |   |   |   |   |       |   |   |   |   |   |   |   |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

| MAN-AHL DIVERSIFIED I L.P.                                                                              |   |           |        |   |           |   |
|---------------------------------------------------------------------------------------------------------|--------|----------------|-------------|--------|----------------|--------|
| (A Delaware Limited Partnership)                                                                        |   |           |        |   |           |   |
|                                                                                                    |   |           |        |   |           |   |
| STATEMENTS OF CASH FLOWS (UNAUDITED)                                                                    |   |           |        |   |           |   |
|                                                                                                    |   |           |        |   |           |   |
|                                                                                                    |   | For the three  |        |   | For the three  |   |
|                                                                                                    |   | months ended   |        |   | months ended   |   |
|                                                                                                    |   | March 31, 2010 |        |   | March 31, 2009 |   |
|                                                                                                    |   |           |        |   |           |   |
| CASH FLOWS FROM OPERATING                                                                               |   |           |        |   |           |   |
|   ACTIVITIES:                                                                                 |   |           |        |   |           |   |
|   Net income (loss)                                                                           |   | $              | 12,345,069  |   |           | $      | (18,428,212 | ) |
|   Adjustments to reconcile net income (loss) to net cash used in operating activities:        |   |           |        |   |           |   |   |   |
|       Purchases of investment in Man-AHL Diversified Trading Company L.P. |   |           | (77,604,350 | )      |           |   | (45,111,785 | ) |
|       Sales of investment in Man-AHL Diversified Trading Company L.P.     |   |           | 29,611,242  |   |           |   | 18,898,995 |   |
|       Net change in (appreciation) depreciation of investment in          |   |           |        |   |           |   |   |   |
|         Man-AHL Diversified Trading Company L.P.                |   |           | (17,056,998 | )      |           |   | 15,523,071 |   |
|     Changes in assets and liabilities:                                              |   |           |        |   |           |   |   |   |
|       Management fees payable                                             |   |           | 124,098     |   |           |   | 26,842 |   |
|       Incentive fees payable                                              |   |           | -           |   |           |   | (2,079,483 | ) |
|       Servicing fees payable                                              |   |           | 71,673      |   |           |   | 13,421 |   |
|       Accrued expenses                                                    |   |           | 12,946      |   |           |   | (47,106 | ) |
|                                                                                                    |   |           |        |   |           |   |   |   |
|            Net cash used in operating activities |   |           | (52,496,320 | )      |           |   | (31,204,257 | ) |
|                                                                                                    |   |           |        |   |           |   |   |   |
| CASH FLOWS FROM FINANCING                                                                               |   |           |        |   |           |   |   |   |
|   ACTIVITIES:                                                                                 |   |           |        |   |           |   |   |   |
|   Proceeds from subscriptions                                                                 |   |           | 74,157,067  |   |           |   | 55,299,367 |   |
|   Payments on redemptions                                                                     |   |           | (25,047,841 | )      |           |   | (13,907,528 | ) |
|                                                                                                    |   |           |        |   |           |   |   |   |
|           Net cash provided by financing activities   |   |           | 49,109,226  |   |           |   | 41,391,839 |   |
|                                                                                                    |   |           |        |   |           |   |   |   |
| NET INCREASE (DECREASE) IN CASH                                                                         |   |           | (3,387,094  | )      |           |   | 10,187,582 |   |
|                                                                                                    |   |           |        |   |           |   |   |   |
| CASH AND CASH EQUIVALENTS                                                                               |   |           |        |   |           |   |   |   |
| Beginning of Period                                                                                     |   |           | 8,321,635   |   |           |   | 8,729,540 |   |
|                                                                                                    |   |           |        |   |           |   |   |   |
| CASH AND CASH EQUIVALENTS                                                                               |   |           |        |   |           |   |   |   |
| End of Period                                                                                           |   | $              | 4,934,541   |   |           | $      | 18,917,122 |   |
|                                                                                                    |   |           |        |   |           |   |   |   |
| See accompanying notes and attached financial                                                           |   |           |        |   |           |   |   |   |
| statements of Man-AHL Diversified Trading Company L.P.                                                  |   |           |        |   |           |   |   |   |

----

| 1. | ORGANIZATION OF THE PARTNERSHIP |
|----|---------------------------------|

| 2. | SIGNIFICANT ACCOUNTING POLICIES |
|----|---------------------------------|

----

----

| 3. | RECENT ACCOUNTING PRONOUNCEMENTS |
|----|----------------------------------|

| 4. | SUBSEQUENT EVENTS |
|----|-------------------|

----

----

| MAN-AHL DIVERSIFIED TRADING COMPANY L.P.                                                        |   |                      |        |   |              |   |
|-------------------------------------------------------------------------------------------------|--------|---------------------------|-------------|--------|-------------------|--------|
| (A Delaware Limited Partnership)                                                                |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
| STATEMENTS OF FINANCIAL CONDITION                                                               |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
|                                                                                            |   | March 31, 2010(unaudited) |        |   | December 31, 2009 |   |
| ASSETS                                                                                          |   |                      |        |   |              |   |
|                                                                                            |   |                      |        |   |              |   |
| Equity in commodity futures and forwards                                                        |   |                      |        |   |              |   |
|  trading accounts:                                                                         |   |                      |        |   |              |   |
|    Net unrealized trading gains on open futures contracts                        |   | $                         | 20,235,535  |   |              | $      | 7,542,562 |   |
|    Net unrealized trading gains on open forward contracts                        |   |                      | 254,994     |   |              |   | 247,019 |   |
|    Due from brokers                                                              |   |                      | 89,079,835  |   |              |   | 80,534,233 |   |
|                                                                                            |   |                      | 109,570,364 |   |              |   | 88,323,814 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| Cash and cash equivalents                                                                       |   |                      | 456,793,931 |   |              |   | 497,103,543 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| Interest receivable                                                                             |   |                      | 1,903       |   |              |   | 16,750 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| TOTAL                                                                                           |   | $                         | 566,366,198 |   |              | $      | 585,444,107 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| LIABILITIES AND PARTNERS’ CAPITAL                                                         |   |                      |        |   |              |   |   |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| LIABILITIES —                                                                             |   |                      |        |   |              |   |   |   |
|   Redemptions payable                                                                 |   | $                         | 13,174,243  |   |              | $      | 85,988,365 |   |
|   Interest payable                                                                    |   |                      | 4,683       |   |              |   | - |   |
|   Net unrealized trading losses on open forward contracts                             |   |                      | 87,751      |   |              |   | 8,180,762 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|            Total liabilities             |   | $                         | 13,266,677  |   |              | $      | 94,169,127 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| PARTNERS’ CAPITAL:                                                                        |   |                      |        |   |              |   |   |   |
|   Limited Partners (57,900.69 and 53,661.82 units outstanding at                      |   |                      |        |   |              |   |   |   |
|     March 31, 2010 and December 31, 2009, respectively)                     |   |                      | 553,099,521 |   |              |   | 491,274,980 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|            Total partners’ capital |   |                      | 553,099,521 |   |              |   | 491,274,980 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| TOTAL                                                                                           |   | $                         | 566,366,198 |   |              | $      | 585,444,107 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| NET ASSET VALUE PER OUTSTANDING UNIT OF                                                         |   |                      |        |   |              |   |   |   |
|   PARTNERSHIP INTEREST                                                                |   | $                         | 9,552.55    |   |              | $      | 9,155.02 |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
|                                                                                            |   |                      |        |   |              |   |   |   |
| See notes to financial statements.                                                              |   |                      |        |   |              |   |   |   |

----

| MAN-AHL DIVERSIFIED TRADING COMPANY L.P.                                        |   |
|---------------------------------------------------------------------------------|--------|
| (A Delaware Limited Partnership)                                                |   |   |   |   |   |   |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| CONDENSED SCHEDULES OF INVESTMENTS                                              |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                            |   | March 31, 2010 (unaudited) |   |   | December 31, 2009 |   |
|                                                                            |   | Fair Value |   |   | Percent of Partners' Capital |   |   | Fair Value |   |   | Percent of Partners' Capital |   |
| FUTURES CONTRACTS - Long:                                                       |   |   |   |   |   |   |   |
|  Agricultural                                                              |   | $ | 145,665 |   |   |   | 0.0 | % |   | $ | 518,842 |   |   |   | 0.1 | % |
|  Currencies                                                                |   |   | 684,877 |   |   |   | 0.1 |   |   |   | 133,337 |   |   |   | - |   |
|  Energy                                                                    |   |   | 1,984,440 |   |   |   | 0.4 |   |   |   | 1,422,218 |   |   |   | 0.29 |   |
|  Indices                                                                   |   |   | 4,607,296 |   |   |   | 0.8 |   |   |   | 5,899,617 |   |   |   | 1.20 |   |
|  Interest rates                                                            |   |   | 5,973,654 |   |   |   | 1.1 |   |   |   | (2,356,137 | ) |   |   | (0.48 | ) |
|  Metals                                                                    |   |   | 3,115,658 |   |   |   | 0.6 |   |   |   | 1,509,514 |   |   |   | 0.31 |   |
|         Total futures contracts - long  |   |   | 16,511,590 |   |   |   | 3.0 |   |   |   | 7,127,391 |   |   |   | 1.40 |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FUTURES CONTRACTS - Short:                                                      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Agricultural                                                              |   |   | 1,666,422 |   |   |   | 0.3 |   |   |   | (363,107 | ) |   |   | (0.1 | ) |
|  Currencies                                                                |   |   | 275,823 |   |   |   | 0.0 |   |   |   | 207,712 |   |   |   | - |   |
|  Energy                                                                    |   |   | 1,555,601 |   |   |   | 0.3 |   |   |   | 6,674 |   |   |   | - |   |
|  Indices                                                                   |   |   | 198,443 |   |   |   | 0.0 |   |   |   | (60,534 | ) |   |   | - |   |
|  Interest rates                                                            |   |   | 288,723 |   |   |   | 0.1 |   |   |   | 810,858 |   |   |   | 0.2 |   |
|  Metals                                                                    |   |   | (261,067 | ) |   |   | (0.0 | ) |   |   | (186,432 | ) |   |   | - |   |
|         Total futures contracts - short |   |   | 3,723,945 |   |   |   | 0.7 |   |   |   | 415,171 |   |   |   | 0.1 |   |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET UNREALIZED TRADING GAINS                                                    |   |   |   |   |   |   |   |   |   |
|   ON OPEN FUTURES CONTRACTS                                           |   | $ | 20,235,535 |   |   |   | 3.7 | % |   | $ | 7,542,562 |   |   |   | 1.5 | % |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FORWARD CONTRACTS - Long:                                                       |   |   |   |   |   |   |   |   |   |
|  Australian dollars                                                        |   | $ | 1,567,685 |   |   |   | 0.3 | % |   | $ | (2,205,340 | ) |   |   | (0.4 | ) % |
|  British pounds                                                            |   |   | 835,305 |   |   |   | 0.2 |   |   |   | (63,197 | ) |   |   | - |   |
|  Euro                                                                      |   |   | (1,886,202 | ) |   |   | (0.3 | ) |   |   | 768,737 |   |   |   | 0.2 |   |
|  Japanese yen                                                              |   |   | (4,522 | ) |   |   | (0.0 | ) |   |   | (51,963 | ) |   |   | - |   |
|  U.S. dollars                                                              |   |   | (1,484,555 | ) |   |   | (0.3 | ) |   |   | 957,592 |   |   |   | 0.2 |   |
|  Gold bullion                                                              |   |   | (283,333 | ) |   |   | (0.1 | ) |   |   | (1,352,669 | ) |   |   | (0.3 | ) |
|  Other                                                                     |   |   | 168,380 |   |   |   | 0.0 |   |   |   | (306,665 | ) |   |   | (0.1 | ) |
|         Total forward contracts - long  |   |   | (1,087,242 | ) |   |   | (0.2 | ) |   |   | (2,253,505 | ) |   |   | (0.4 | ) |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FORWARD CONTRACTS - Short:                                                      |   |   |   |   |   |   |   |   |   |
|  Australian dollars                                                        |   |   | (342,032 | ) |   |   | (0.1 | ) |   |   | 566,214 |   |   |   | 0.1 |   |
|  British pounds                                                            |   |   | (1,528,985 | ) |   |   | (0.3 | ) |   |   | (734,855 | ) |   |   | (0.1 | ) |
|  Euro                                                                      |   |   | 1,557,898 |   |   |   | 0.3 |   |   |   | (283,926 | ) |   |   | (0.1 | ) |
|  Japanese yen                                                              |   |   | 217,467 |   |   |   | 0.0 |   |   |   | 186,231 |   |   |   | - |   |
|  New Zealand dollars                                                       |   |   | (719,709 | ) |   |   | (0.1 | ) |   |   | (116,860 | ) |   |   | - |   |
|  U.S. dollars                                                              |   |   | 2,209,087 |   |   |   | 0.4 |   |   |   | (5,266,747 | ) |   |   | (1.1 | ) |
|  Other                                                                     |   |   | (139,241 | ) |   |   | (0.0 | ) |   |   | (30,295 | ) |   |   | - |   |
|         Total forward contracts - short |   |   | 1,254,485 |   |   |   | 0.2 |   |   |   | (5,680,238 | ) |   |   | (1.2 | ) |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET UNREALIZED TRADING GAINS (LOSSES)                                           |   |   |   |   |   |
|   ON OPEN FORWARD CONTRACTS                                           |   | $ | 167,243 |   |   |   | (0.0 | ) % |   | $ | (7,933,743 | ) |   |   | (1.6 | ) % |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET UNREALIZED TRADING GAINS (LOSSES)                                           |   |   |   |   |   |
|   ON OPEN CONTRACTS                                                   |   | $ | 20,402,778 |   |   |   | 3.7 | % |   | $ | (391,181 | ) |   |   | (0.01 | ) % |
|                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| See notes to financial statements.                                              |   |   |   |   |   |   |   |   |   |

----

| MAN-AHL DIVERSIFIED TRADING COMPANY L.P.           |   |
|----------------------------------------------------|--------|
| (A Delaware Limited Partnership)                   |   |   |   |   |
|                                               |   |   |   |   |   |   |
| STATEMENTS OF OPERATIONS (UNAUDITED)               |   |
|                                               |   |   |   |   |   |   |
|                                               |   | For the three |   |   | For the three |   |
|                                               |   | months ended |   |   | months ended |   |
|                                               |   | March 31, 2010 |   |   | March 31, 2009 |   |
|                                               |   |   |   |   |   |   |
| NET INVESTMENT INCOME:                             |   |   |   |   |   |   |
|   Interest income                        |   | $ | 179,576 |   |   | $ | 292,480 |   |
|                                               |   |   |   |   |   |   |   |   |
| NET REALIZED AND UNREALIZED                        |   |   |   |   |   |
|   GAINS (LOSSES) ON TRADING              |   |   |   |   |   |   |   |   |
|    ACTIVITIES:                      |   |   |   |   |   |   |   |   |
| Net realized trading gains (losses) on             |   |   |   |   |   |
|    closed contracts                 |   |   | 2,587,977 |   |   |   | (11,418,591 | ) |
| Net change in unrealized trading gains             |   |   |   |   |   |
|     (losses) on open contracts |   |   | 20,793,959 |   |   |   | (22,620,273 | ) |
|                                               |   |   |   |   |   |   |   |   |
| NET GAIN (LOSS) ON TRADING                         |   |   |   |   |   |   |   |   |
|   ACTIVITIES                             |   |   | 23,381,936 |   |   |   | (34,038,864 | ) |
|                                               |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                  |   | $ | 23,561,512 |   |   | $ | (33,746,384 | ) |
|                                               |   |   |   |   |   |   |   |   |
|                                               |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS) FOR A UNIT                       |   |   |   |   |   |
|  OF PARTNERSHIP INTEREST                      |   | $ | 397.53 |   |   | $ | (655.48 | ) |
|                                               |   |   |   |   |   |   |   |   |
| See notes to financial statements.                 |   |   |   |   |   |   |   |   |

----

| MAN-AHL DIVERSIFIED TRADING COMPANY L.P.                     |   |     |        |   |    |   |   |
|--------------------------------------------------------------|--------|----------|-------------|--------|---------|--------|--------|
| (A Delaware Limited Partnership)                             |   |     |        |   |    |   |   |   |   |
|                                                         |   |     |        |   |    |   |   |   |   |
| STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (UNAUDITED) |   |     |        |   |    |   |   |
| FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009           |   |     |        |   |    |   |   |
|                                                         |   |     |        |   |    |   |   |   |   |
|                                                         |   |     |        |   |    |   |   |   |   |
|                                                         |   | Limited  |        |   | General |   |   |   |   |
|                                                         |   | Partners |        |   | Partner |   |   | Total |   |
|                                                         |   |     |        |   |    |   |   |   |   |
| PARTNERS’ CAPITAL — January 1, 2010              |   | $        | 491,274,980 |   |    | $      | -      |   |   | $ | 491,274,980 |   |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
|   Issuance of 8,738 units of limited               |   |     |        |   |    |   |   |   |   |   |   |   |
|     partnership interest                 |   |     | 79,727,930  |   |    |   | -      |   |   |   | 79,727,930 |   |
|   Redemption of 4,499 units of limited             |   |     |        |   |    |   |   |   |   |   |   |   |
|     partnership interest                 |   |     | (41,464,901 | )      |    |   | -      |   |   |   | (41,464,901 | ) |
|   Net Income                                       |   |     | 23,561,512  |   |    |   | -      |   |   |   | 23,561,512 |   |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL — March 31, 2010               |   | $        | 553,099,521 |   |    | $      | -      |   |   | $ | 553,099,521 |   |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL — January 1, 2009              |   | $        | 503,016,088 |   |    | $      | -      |   |   | $ | 503,016,088 |   |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
|   Issuance of 6,334 units of limited               |   |     |        |   |    |   |   |   |   |   |   |   |
|     partnership interest                 |   |     | 65,463,059  |   |    |   | -      |   |   |   | 65,463,059 |   |
|   Redemption of 4,295 units of limited             |   |     |        |   |    |   |   |   |   |   |   |   |
|     partnership interest                 |   |     | (43,256,592 | )      |    |   | -      |   |   |   | (43,256,592 | ) |
|   Net Loss                                         |   |     | (33,746,384 | )      |    |   | -      |   |   |   | (33,746,384 | ) |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
| PARTNERS’ CAPITAL — March 31, 2009               |   | $        | 491,476,171 |   |    | $      | -      |   |   | $ | 491,476,171 |   |
|                                                         |   |     |        |   |    |   |   |   |   |   |   |   |
| See notes to financial statements.                           |   |     |        |   |    |   |   |   |   |   |   |   |

----

| MAN-AHL DIVERSIFIED TRADING COMPANY L.P.                                                         |   |           |         |   |           |   |
|--------------------------------------------------------------------------------------------------|--------|----------------|--------------|--------|----------------|--------|
| (A Delaware Limited Partnership)                                                                 |   |           |         |   |           |   |
|                                                                                             |   |           |         |   |           |   |
| STATEMENTS OF CASH FLOWS (UNAUDITED)                                                             |   |           |         |   |           |   |
|                                                                                             |   |           |         |   |           |   |
|                                                                                             |   | For the three  |         |   | For the three  |   |
|                                                                                             |   | months ended   |         |   | months ended   |   |
|                                                                                             |   | March 31, 2010 |         |   | March 31, 2009 |   |
|                                                                                             |   |           |         |   |           |   |
| CASH FLOWS FROM OPERATING                                                                        |   |           |         |   |           |   |
|  ACTIVITIES:                                                                                |   |           |         |   |           |   |
|   Net income (loss)                                                                    |   | $              | 23,561,512   |   |           | $      | (33,746,384 | ) |
|   Adjustments to reconcile net income (loss)                                           |   |           |         |   |           |   |   |   |
|     to net cash used in operating activities:                                |   |           |         |   |           |   |   |   |
|     Net change in unrealized trading (gains) losses on open contracts        |   |           | (20,793,959  | )      |           |   | 22,620,273 |   |
|     Changes in assets and liabilities:                                       |   |           |         |   |           |   |   |   |
|      Due from brokers                                                   |   |           | (8,545,602   | )      |           |   | (24,701,897 | ) |
|      Interest receivable                                                |   |           | 14,847       |   |           |   | 78,011 |   |
|      Interest payable                                                   |   |           | 4,683        |   |           |   | - |   |
|                                                                                             |   |           |         |   |           |   |   |   |
|            Net cash used in               |   |           |         |   |           |   |   |   |
|            operating activities           |   |           | (5,758,519   | )      |           |   | (35,749,997 | ) |
|                                                                                             |   |           |         |   |           |   |   |   |
| CASH FLOWS FROM FINANCING                                                                        |   |           |         |   |           |   |   |   |
|  ACTIVITIES:                                                                                |   |           |         |   |           |   |   |   |
|   Proceeds from subscriptions                                                          |   |           | 79,727,930   |   |           |   | 65,463,059 |   |
|   Payments on redemptions                                                              |   |           | (114,279,023 | )      |           |   | (48,813,507 | ) |
|                                                                                             |   |           |         |   |           |   |   |   |
|            Net cash provided by (used in) |   |           |         |   |           |   |   |   |
|             financing activities     |   |           | (34,551,093  | )      |           |   | 16,649,552 |   |
|                                                                                             |   |           |         |   |           |   |   |   |
| NET DECREASE IN CASH                                                                             |   |           |         |   |           |   |   |   |
|  AND CASH EQUIVALENTS                                                                       |   |           | (40,309,612  | )      |           |   | (19,100,445 | ) |
|                                                                                             |   |           |         |   |           |   |   |   |
| CASH AND CASH EQUIVALENTS                                                                        |   |           |         |   |           |   |   |   |
|  Beginning of period                                                                        |   |           | 497,103,543  |   |           |   | 484,593,631 |   |
|                                                                                             |   |           |         |   |           |   |   |   |
| CASH AND CASH EQUIVALENTS                                                                        |   |           |         |   |           |   |   |   |
|  End of period                                                                              |   | $              | 456,793,931  |   |           | $      | 465,493,186 |   |
|                                                                                             |   |           |         |   |           |   |   |   |
|                                                                                             |   |           |         |   |           |   |   |   |
| See notes to financial statements.                                                               |   |           |         |   |           |   |   |   |

----

| 1. | ORGANIZATION OF THE TRADING COMPANY |
|----|-------------------------------------|

| 2. | SIGNIFICANT ACCOUNTING POLICIES |
|----|---------------------------------|

----

| 3. | FAIR VALUE MEASUREMENTS |
|----|-------------------------|

|                                                    |   |           |       |   |               |   |       | Fair Value Measurments |   |
|---------------------------------------------------------|--------|----------------|------------|--------|--------------------|--------|------------|------------------------|--------|
|                                                    |   |           |       |   |               |   |       |                   |   |   |   |   |
|                                                    |   |           |       |   | Quoted Prices in   |   |       | Significant Other      |   |   | Significant Other |   |
|                                                    |   | Fair Value     |       |   | Active Markets for |   |       | Observable             |   |   | Unobservable |   |
|                                                    |   | as of          |       |   | Identical Assets   |   |       | Inputs                 |   |   | Inputs |   |
| Description                                             |   | March 31, 2010 |       |   | (Level 1)          |   |       | (Level 2)              |   |   | (Level 3) |   |
|                                                    |   |           |       |   |               |   |       |                   |   |   |   |   |
| Net unrealized trading gains on open futures contracts  |   | $              | 20,235,535 |   |               | $      | 20,235,535 |                   |   | $ | - |   |   | $ | - |   |
|                                                    |   |           |       |   |               |   |       |                   |   |   |   |   |   |   |   |   |
| Net unrealized trading gains on open forward contracts  |   |           | 254,994    |   |               |   | -          |                   |   |   | 254,994 |   |   |   | - |   |
|                                                    |   |           |       |   |               |   |       |                   |   |   |   |   |   |   |   |   |
| Net unrealized trading losses on open forward contracts |   |           | (87,751    | )      |               |   | -          |                   |   |   | (87,751 | ) |   |   | - |   |
|                                                    |   |           |       |   |               |   |       |                   |   |   |   |   |   |   |   |   |
| Total                                                   |   | $              | 20,402,778 |   |               | $      | 20,235,535 |                   |   | $ | 167,243 |   |   | $ | - |   |

----

| 4. | DERIVATIVE TRANSACTIONS |
|----|-------------------------|

----

| Derivatives not designated as hedging instruments | Asset Derivatives                                      |   | Liability Derivatives      |       |
|---------------------------------------------------|--------------------------------------------------------|--------|----------------------------|------------|
|                                              | March 31, 2010 (unaudited)                             |   | March 31, 2010 (unaudited) |       |
|                                              | Statement of Financial Condition                       |   | Fair Value **              |       | Statement of Financial Condition |   | Fair Value** |   |
| Open forward contracts                            | Net unrealized trading gains on open forward contracts |   | $                          | 12,309,985 |   | Net unrealized trading losses on open forward contracts |   | $ | (12,142,742 | ) |
| Open futures contracts                            | Net unrealized trading gains on open futures contracts |   |                       | 23,830,385 |   | Net unrealized trading losses on open futures contracts |   |   | (3,594,850 | ) |
| Total Derivatives                                 |                                                   | $      | 36,140,370                 |       |   |   | $ | (15,737,592 | ) |

| Derivatives not designated as hedging instruments | Asset Derivatives                                      |   | Liability Derivatives |       |
|---------------------------------------------------|--------------------------------------------------------|--------|-----------------------|------------|
|                                              | December 31, 2009                                      |   | December 31, 2009     |       |
|                                              | Statement of Financial Condition                       |   | Fair Value **         |       | Statement of Financial Condition |   | Fair Value ** |   |
| Open forward contracts                            | Net unrealized trading gains on open forward contracts |   | $                     | 13,990,855 |   | Net unrealized trading losses on open forward contracts |   | $ | (21,924,598 | ) |
| Open futures contracts                            | Net unrealized trading gains on open futures contracts |   |                  | 13,469,655 |   | Net unrealized trading losses on open futures contracts |   |   | (5,927,093 | ) |
| Total Derivatives                                 |                                                   | $      | 27,460,510            |       |   |   | $ | (27,851,691 | ) |

----

|                                              |                                                              |   | For the Three Months Ended March 31, 2010 |       |   | For the Three Months Ended March 31, 2009 |   |
|---------------------------------------------------|-------------------------------------------------------------------|--------|-------------------------------------------|------------|--------|-------------------------------------------|--------|
| Derivatives not designated as hedging instruments | Location of gain or loss recognized in income on Derivatives      |   | (unaudited)Gain/(Loss) on Derivatives     |       |   | (unaudited)Loss on Derivatives            |   |
|                                              |                                                              |   |                                      |       |   |                                      |   |
| Forward contracts                                 | Net realized trading gains (losses) on closed contracts           |   | $                                         | 7,135,562  |   |                                      | $      | (1,918,926 | ) |
|                                              | Net change in unrealized trading gains (losses) on open contracts |   |                                      | 8,100,986  |   |                                      |   | (7,352,438 | ) |
|                                              |                                                              |   |                                      |       |   |                                      |   |   |   |
| Futures contracts                                 | Net realized trading losses on closed contracts                   |   |                                      | (4,547,585 | )      |                                      |   | (9,499,665 | ) |
|                                              | Net change in unrealized trading gains (losses) on open contracts |   |                                      | 12,692,973 |   |                                      |   | (15,267,835 | ) |
| Net Gain/(Loss) on Derivatives                    |                                                              |   | $                                         | 23,381,936 |   |                                      | $      | (34,038,864 | ) |

| 5. | SUBSEQUENT EVENTS |
|----|-------------------|

----

| ITEM 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations. |
|---------|----------------------------------------------------------------------------------------|

----

|          | 31-Mar-10    |
|---------------|--------------|
| Ending Equity | $397,316,951 |

----

|          | 31-Mar -09   |
|---------------|--------------|
| Ending Equity | $232,322,608 |

----

----

| ITEM 3. | Quantitative and Qualitative Disclosures About Market Risk. |
|---------|-------------------------------------------------------------|

| ITEM 4T. | Controls and Procedures. |
|----------|--------------------------|

----

| Item 1. | Legal Proceedings. |
|---------|--------------------|

| Item 1A. | Risk Factors. |
|----------|---------------|

| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds. |
|---------|--------------------------------------------------------------|

|                         |   | Class A Units    |   | Class A-2 Units  |   | Class B Units    |   | Class B-2 Units  |
|------------------------------|--------|------------------|--------|------------------|--------|------------------|--------|------------------|
|                         |   |             |   |             |   |             |   |             |
| Date of Redemption:          |   | Amount Redeemed: |   | Amount Redeemed: |   | Amount Redeemed: |   | Amount Redeemed: |
| March 31, 2010               |   | $7,366,446       |   | $1,158,700       |   | $1,396,962       |   | $0               |
| February 28, 2010            |   | $4,929,312       |   | $1,979,564       |   | $1,254,198       |   | $0               |
|   January 31, 2010 |   | $3,381,657       |   | $3,198,287       |   | $944,611         |   | $1,531,047       |
| TOTAL                        |   | $15,677,415      |   | $6,336,551       |   | $3,595,771       |   | $1,531,047       |

| Item 3. | Defaults upon Senior Securities. |
|---------|----------------------------------|

| Item 4. | (Removed and Reserved). |
|---------|-------------------------|

----

| Item 5. | Other Information. |
|---------|--------------------|

| Item 6. | Exhibits. |
|---------|-----------|

| Designation                                                                  | Description                                                           |
|------------------------------------------------------------------------------|-----------------------------------------------------------------------|
|                                                                         |                                                                  |
| 31.1                            | Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer |
| 31.2                  | Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer |
| 32.1                  | Section 1350 Certification of Principal Executive Officer             |
| 32.2             | Section 1350 Certification of Principal Financial Officer             |

| 3.1 | Certificate of Limited Partnership of Man-AHL Diversified I L.P. |
|-----|------------------------------------------------------------------|

| 10.1 | Form of Customer Agreement between E D & F Man International Inc. and Man-AHL Diversified Trading Company L.P. |
|------|--------------------------------------------------------------------------------------------------------------------|

| 10.2 | Form of Trading Advisor Agreement between Man-AHL Diversified I L.P., Man Investments (USA) Corp. and Man-AHL (USA) Limited. |
|------|------------------------------------------------------------------------------------------------------------------------------|

| 10.3 | Form of Selling Agreement between Man Investments (USA) Corp. and Man Investments Inc. |
|------|----------------------------------------------------------------------------------------|

| 4.2  | Sixth Amended Limited Partnership Agreement of Man-AHL Diversified I L.P. |
|-----------|---------------------------------------------------------------------------|

----

|   | Man-AHL Diversified I L.P.(Registrant) |                                                  |
|--------|----------------------------------------|-------------------------------------------------------|
|   |                                   |                                                  |   |
|   | By:                                    | Man Investments (USA) Corp.General Partner            |   |
|   |                                   |                                                  |   |
|   | By:                                    | /s/ Andrew Stewart                               |   |
|   |                                   |                                                  |   |
|   |                                   |  President and Chief Executive Officer           |   |
|   |                                   |  (Principal Executive Officer)                   |   |
|   |                                   |                                                  |   |
|   |  By:                              |  /s/ Alicia Borst Derrah                         |   |
|   |                                   |                                                  |   |
|   |                                   | Vice President, Chief Financial Officer and Secretary |   |
|   |                                   | (Principal Financial and Chief Accounting Officer)    |   |

----

| Exhibit Number                                                                                                   | Description of Document                                               |
|------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------|
|                                                                                                             |                                                                  |
| 31.1                   | Rule 13a-14(a)/15d-14(a) Certification of Principal Executive Officer |
| 31.2                             | Rule 13a-14(a)/15d-14(a) Certification of Principal Financial Officer |
| 32.1                                       | Section 1350 Certification of Principal Executive Officer             |
| 32.2                                  | Section 1350 Certification of Principal Financial Officer             |

----